Take heart. I believe some people, who have extenuating circumstances, deserve to buy property in unconventional situations. That includes those who are credit-challenged – as long as they are honest, and can and will keep their financial obligations.

The purpose of this article and the objective of this portal is to provide hope to businesspeople with business-coaching strategies to alleviate uncertainty and be successful. As a frequent champion of underdogs, that even extends to buying real estate.

The predatory practices of some banks and credit card companies – domiciled specifically in six states – imposed interest rates as high as 38 percent for dubious reasons.

There have been countless victims, especially in small business. After being victimized by financial abuses and by not knowing how to ease debt-collection headaches – because of slow-paying customers – small businesspeople have been unsuccessful in getting credit.

Now, real estate prices are low nearly everywhere. However, buyers typically have to possess assets such as money in a financial institution, money for a down payment, a good job or healthy business, and have good credit. Otherwise, it’s difficult to buy real estate.

But by using unconventional techniques, it’s possible for credit-challenged buyers to purchase real estate.

“What?!” you ask. Well, humor me. It’s feasible to buy a privately held business – on a leveraged buyout using a portion of the sales for payments – or to purchase a home by being creative.

Firstly, make sure you have a stable job or have used budgeting basics en route to success as an entrepreneur.

Secondly, crunch the numbers. Know your budget and what you can afford to buy.

Thirdly, when it’s time to buy, creativity is the answer. I don’t mean doing it with smoke and mirrors. You can do it – honestly and above board. You simply have to be resourceful in finding the right buying environment and using the 22 do’s and don’ts for successful negotiations.

Start looking now. By the time the right property appears, you’ll know it.

As the adage goes, it’s “location, location, location.” Do your homework. Cruise the locales in which you’d like to live or run your business. Then, find someone who might be motivated to listen to you. That’s a person who can’t afford a mortgage obligation or because the person’s property has been sitting on the market.

As you see possible opportunities, be wary of any drawbacks: It might be in a poor location, needing repairs, or have a quirky layout.

Look for the signs of opportunity:

Pre-foreclosure. Using creative financing, as in rent or lease-to-buy, the owner might sell to avoid a foreclosure. You can spot foreclosure notices online, in legal newspapers or in the classified ads.

It’s worth noting that the $25 billion settlement with the major banks over their abusive practices hasn’t solved the nation’s foreclosure issue. Look for a new round of threatened home seizures because the lenders slowed their rate of foreclosures during their negotiations with the 50 state attorneys general. Such homeowners might be willing to listen to you.

Vacant property. An empty building often means it’s costing the owner money. Usually, the owner has moved and is paying for two mortgages after being unsuccessful in selling the property.

Estate sales. Heirs to a property will typically want to put it on the market and cash out. However, these days, it might be difficult for them to sell. Sometimes, they don’t know the value of the property and will discount it too much. Often, repairs are needed and the heirs might not have the time and resources to fix it. Any of these factors might prompt them to listen to a creative-financing idea.

Divorce. Though more difficult to find, such sellers normally need to sell the property – like yesterday – especially in a bitterly contested divorce. Such properties are harder to find. But to avert additional delays and possibly having to pay for building repairs, you might be able to persuade the sellers on an as-is basis.

For-sale ads and signs. You might hit the mother lode if you spot a sign with the phrasing, “owner financing” or “owner will carry paper.” Those are green lights.

A note of caution: Do your due diligence. Verify the seller indeed owns the property. Trust but verify the seller’s representations, and have your expert help prepare or review any documents before you sign.

What Should You Divulge When Asking for Investment Capital? — If your startup is the next big thing, but you want venture capital, you can start smiling. Yes, financing has been difficult to obtain in recent years. But entrepreneurs wanting venture capital have reasons for at least a small celebration – the money is starting to flow again after the Great Recession took its toll.

Funding Options to Navigate This Marketplace Bedlam — Uncertainties regarding Wall Street, actions by the Federal Reserve, and funding often set off alarm bells. But if you’re looking for capital, there are reasons to hope, according to leading consultant Joey Tamer.

“Success is the sum of small efforts, repeated day in and day out.”

-Robert J. Collier

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Author Terry Corbell has written innumerable online business-enhancement articles, and is a business-performance consultant and profit professional. Click here to see his management services. For a complimentary chat about your business situation or to schedule him as a speaker, consultant or author, please contact Terry.